BB&T Co. (BBT) Shares Sold by Laffer Investments
Laffer Investments cut its stake in BB&T Co. (NYSE:BBT) by 6.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,160 shares of the insurance provider’s stock after selling 3,140 shares during the period. Laffer Investments’ holdings in BB&T were worth $1,979,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of BBT. Signature Estate & Investment Advisors LLC purchased a new position in shares of BB&T during the second quarter valued at approximately $111,000. Community Bank N.A. increased its position in shares of BB&T by 6.2% during the second quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock valued at $112,000 after acquiring an additional 144 shares in the last quarter. Highstreet Asset Management Inc. increased its position in shares of BB&T by 105.3% during the third quarter. Highstreet Asset Management Inc. now owns 3,053 shares of the insurance provider’s stock valued at $143,000 after acquiring an additional 1,566 shares in the last quarter. Dupont Capital Management Corp bought a new stake in shares of BB&T during the second quarter valued at approximately $170,000. Finally, Cable Hill Partners LLC increased its position in shares of BB&T by 7,184.0% during the third quarter. Cable Hill Partners LLC now owns 3,642 shares of the insurance provider’s stock valued at $171,000 after acquiring an additional 3,592 shares in the last quarter. Institutional investors and hedge funds own 65.39% of the company’s stock.
Several brokerages recently weighed in on BBT. Keefe, Bruyette & Woods reissued a “hold” rating and set a $50.00 price target on shares of BB&T in a research report on Thursday. FBR & Co set a $48.00 price target on shares of BB&T and gave the company a “hold” rating in a research report on Friday, October 20th. Stephens raised shares of BB&T from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a research report on Thursday, October 5th. BidaskClub downgraded shares of BB&T from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $48.00 target price on shares of BB&T in a research report on Sunday, October 22nd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. BB&T has a consensus rating of “Hold” and a consensus price target of $49.28.
BB&T Co. (NYSE BBT) opened at $48.97 on Friday. The firm has a market cap of $38,988.48, a price-to-earnings ratio of 16.31, a PEG ratio of 2.27 and a beta of 0.99. BB&T Co. has a one year low of $41.17 and a one year high of $51.11. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.85 and a current ratio of 0.86.
BB&T (NYSE:BBT) last issued its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.78 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.85 billion. BB&T had a net margin of 19.42% and a return on equity of 9.64%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.76 EPS. equities research analysts forecast that BB&T Co. will post 3.1 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Thursday, November 9th. BB&T’s dividend payout ratio is presently 49.07%.
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BB&T Corporation is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. Its segments include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Holdings and Financial Services.
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